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Friday, June 29, 2012
Pivot Patrol: YC Alum SwipeGood Is Now Elastic, A Sales-As-A-Service Platform For Tech Startups
In early 2011 SwipeGood graduated from the winter class of top-tier startup incubator program Y Combinator, and it went on to land $500,000 in seed funding from a reputable group of angel investors. But in the months following, the company ran into a problem -- it found that it couldn't truly compete and grow the business, largely because it lacked the kind of sales force it would need to play in the big leagues. And that led co-founder and CEO Steli Efti and his co-founders Thomas Steinacher and Anthony Nemitz to an "a-ha" moment of sorts -- and soon, the company was reborn as Elastic, a sales-as-a-service platform aimed at startups.
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